A head-to-head comparison of iShares Treasury Floating Rate Bond ETF and WisdomTree Floating Rate Treasury Fund covering yield, cost, risk, and income potential.
Data updated September 18, 2026
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.
TFLO has lagged USFR over the trailing twelve months, posting a 4.05% total return against 4.11%. The lead holds up over 5 years too: USFR has compounded at 3.92% a year, against 3.88% for TFLO. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 18, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Feb 2014” measures every fund from February 4, 2014 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Bottom lineTFLO and USFR are nearly interchangeable — both offer very similar ultra short bond exposure with very similar cost and risk. Fees are effectively identical, so it comes down to which your broker offers commission-free and any share-price or tax-lot preference.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.
See our curated list of related YouTube videos on TFLO.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
WisdomTree is known for developing thematic and factor-based ETFs that go beyond traditional market-cap weighting approaches. The issuer maintains a broad lineup spanning dividend and income strategies, international equities, commodities, bonds, digital assets, and specialized thematic areas like megatrends and alternatives. WisdomTree's diverse fund family appeals to investors seeking both traditional income exposure and more specialized strategies, with popular tickers across equity, fixed income, and alternative asset classes.
See our curated list of related YouTube videos on USFR.
TFLO (iShares Treasury Floating Rate Bond ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both monthly-pay dividend ETFs, but they take different approaches.
TFLO offers the higher yield at 3.87% vs 3.81% for USFR. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
USFR is the larger fund by assets ($19.6B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, TFLO would generate roughly $32.25/month, while USFR would produce $31.75/month, at current distribution rates. Both pay monthly distributions.
TFLO yield3.87%
USFR yield3.81%
Monthly diff on $10K$0.50
Cost & efficiency
Over 10 years on $10,000, TFLO would cost approximately $150 in fees vs $150 for USFR (simplified, not compounded). Both charge the same expense ratio.
TFLO ER0.15%
USFR ER0.15%
Strategy & risk
TFLO is an ETF built around ultra short bond exposure, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index with a bonds approach.
TFLO beta-0.02
USFR beta-0.02
Fund details
TFLO is managed by iShares (launched 02/04/2014) with $6.88B in assets. USFR is managed by WisdomTree (launched 02/04/2014) with $19.6B in assets.
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Frequently asked questions
What is the current distribution rate for TFLO and USFR?
TFLO currently distributes 3.87% and USFR 3.81%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is TFLO or USFR better for dividend income?
It depends on your goals. TFLO currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between TFLO and USFR?
TFLO (iShares Treasury Floating Rate Bond ETF) is an ETF built around ultra short bond exposure, while USFR (WisdomTree Floating Rate Treasury Fund) tracks Bloomberg U.S. Treasury Floating Rate Bond Index with a bonds approach. They are issued by iShares and WisdomTree respectively.
Can I hold both TFLO and USFR?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Is TFLO or USFR safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: TFLO scores 79, USFR scores 79. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.
Which has lower fees, TFLO or USFR?
TFLO and USFR both charge the same expense ratio of 0.15%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.
How much income does $10,000 in TFLO vs USFR generate?
At current rates, $10,000 in TFLO would generate roughly $32.25 per month ($387.00 annually). The same in USFR would produce about $31.75 per month ($381.00 annually).
Which has performed better historically, TFLO or USFR?
TFLO has lagged USFR over the trailing twelve months, posting a 4.05% total return against 4.11%. The lead holds up over 5 years too: USFR has compounded at 3.92% a year, against 3.88% for TFLO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
TFLO and USFR are both ETFs holding U.S. Treasury floating-rate notes with monthly distributions and identical expense ratios of 0.15%. Both offer yields hovering just below 3.9%, making them functionally similar conduits to floating-rate Treasury exposure. Both funds carry the same 0.15% fee and offer monthly distributions at nearly identical yields (TFLO at 3.87%, USFR at 3.81%). The second difference is index methodology: USFR explicitly tracks the Bloomberg U.S. Treasury Floating Rate Bond Index, while TFLO uses iShares' own floating-rate Treasury framework. Third, TFLO trades marginally higher at $50.62 versus $50.49, a minor pricing divergence that may reflect AUM scale or fund-flow dynamics; both were launched on 02/04/2014.
Who each is best for
TFLO: Fits income investors who prefer iShares' product ecosystem and value the security of a $6.88B fund with established operational history.
Key risks to know
Duration and rate-reset risk: Floating-rate Treasuries reprice at set intervals; investors bear the risk that rates fall sharply between resets, locking in lower yields until the next adjustment period.
Spread compression from falling rates: Both funds hold Treasury securities backed by the full faith and credit of the U.S. government; their distributions largely reflect current Fed-funds rates. Should short-term rates decline, distribution yields will follow quickly, eroding the relative appeal of the funds' income.
NAV stability at extremely low rates: If interest rates move sharply lower (as seen during crisis periods globally), the carry on floating-rate Treasuries could compress significantly, making the funds' attraction as income vehicles diminish. Both are functionally interchangeable conduits to the current short-end rate environment—the choice turns on execution preference and ecosystem loyalty, not on fundamentally different return profiles. Past performance does not predict future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
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The metrics behind this comparison, explained in the Academy.
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